11893. Mechanics Dime Savings Bank (Raleigh, NC)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
March 4, 1901
Location
Raleigh, North Carolina (35.772, -78.639)

Metadata

Model
gpt-5-mini
Short Digest
296601c3

Response Measures

Accommodated withdrawals

Description

Two Raleigh News & Observer articles (Mar 5, 1901) describe a small, short-lived run caused by vague/wild rumors. No suspension, closure, or receivership is mentioned; bank reported strong and unembarrassed. Date of run inferred as 1901-03-04 (articles dated 1901-03-05 say 'yesterday').

Events (1)
1. March 4, 1901 Run
Cause
Rumor Or Misinformation
Cause Details
A small run began after vague/wild rumors and nervousness among depositors (railroad employees took a small scare).
Measures
Notice was posted at closing hour; bank publicly reassured and reported no embarrassment.
Newspaper Excerpt
A small run on it yesterday, started by vague rumors, served to show its strength.
Source
newspapers

Newspaper Articles (2)
1. March 5, 1901 The News & Observer Raleigh, NC
Article from The News & Observer, March 5, 1901

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Article Text

The people of Raleigh who know their true condition are proud of its banking institutions. Not one is better bottomed in resources and popular confidence than the Mechanics Dime Savings Bank. A small run on it yesterday, started by vague rumors, served to show its strength. Its stock is way above par and its as solid as any institution in North Carolina.

2. March 5, 1901 The News & Observer Raleigh, NC
Article from The News & Observer, March 5, 1901

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Article Text

# A FOOLISH RUN # ON A FINE BANK Railroad Employes Took a Small Scare. # WILD RUMORS CAUSED IT The Bank Was Not Embarrassed by the Withdrawa's. # ITS STOCK IN DEMAND AT A PREMIUM President Johnson Says the Bank is in Better Condition Than Ever Before, and Its Business Record Shows a Steady Growth. There was a small "run" on the Mechanic's Dime Savings Bank yesterday. It began soon after the bank opened for business and continued until about noon, when the number and amount of the withdrawals began to fall off. When closing hour arrived the following notice was posted.